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16:03 Forex Signals - Intraday Strategy for GBP / JPY 18/05/10 | |
| Pair GBP / JPY on the hourly chart is traded under the uptrend. It shows that the rate of GBP / JPY is trading above the moving average with period 55 per hour schedule (level 134.10), which generally contributes to the prices in the short term. I recommend opening a long position after the breakdown of the results of hours of resistance at 134.22 with a view to increasing the resistance at 134.52 and if it is the breakdown on the basis of hours to 134.79. Stoploss if this strategy can be placed on the level of 133.80. I recommend to open short positions after the breakdown on the basis of hours of support at 133.57 with a view to reducing the level of support 133.16-132-79 in the case of breakdown to 132.21. Stoploss if this strategy can be put at 134.00. Given that the moving average and the location of boundaries of technical figures over time is moving, it is necessary to the hourly chart to adjust their status. I also recommend to open positions up to an hour to avoid false breakouts. In the case of a strong movement in the breakout technical figures, I recommend to wait for correction. The level, which was the resistance should be a strong support and it was near this level should open position in the direction of the breakdown. Analyst "Forex Analytics" Alex Sedyshev
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